Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – June 23rd, 2021
In This Article:
Ethereum
Ethereum fell by 0.20% on Tuesday. Following a 15.93% slide from Monday, Ethereum ended the day at $1,881.65.
A mixed start to the day saw Ethereum rise to an early morning intraday high $1,996.67 before hitting reverse.
Falling short of the first major resistance level at $2,142, Ethereum slid to an early afternoon intraday low $1,700.00.
The extended sell-off saw Ethereum fall through the first major support level at $1,747 and the 62% FIB of $1,725.
Finding late support, Ethereum broke back through the 62% FIB and first major support level to end the day at $1,880 levels.
At the time of writing, Ethereum was down by 0.50% to $1,872.15. A mixed start to the day saw Ethereum rise to an early morning high $1,887.21 before falling to a low $1,867.89.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid the $1,859 pivot to bring the first major resistance level at $2,019 into play.
Support from the broader market would be needed, however, for Ethereum to break back through to $2,000 levels.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of a broad-based crypto rebound, Ethereum could test resistance at $2,200. The second major resistance level sits at $2,156.
A fall through the $1,859 pivot would bring the 62% FIB of $1,725 and the first major support level at $1,722 into play.
Barring another extended sell-off, however, Ethereum should steer clear of sub-$1,600 levels. The second major support level sits at $1,563.
Looking at the Technical Indicators
First Major Support Level: $1,722
Pivot Level: $1,859
First Major Resistance Level: $2,019
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin
Litecoin fell by 3.67% on Tuesday. Following a 19.65% tumble on Monday, Litecoin ended the day at $119.83.
Tracking the broader market, Litecoin rose to an early morning intraday high $133.02 before hitting reverse.
Falling short of the first major resistance level at $145 Litecoin slid to an early afternoon intraday low and a new swing lo $105.00.
Litecoin fell through the first major support level at $114 before finding support to end the day at $119 levels.
At the time of writing, Litecoin was down by 0.39% to $119.36. A mixed start to the day saw Litecoin rise to an early morning high $120.00 before falling to a low $119.02.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to avoid a fall back through the $119 pivot to bring the first major resistance level at $134 into play.